Vicars

(after stating the facts as above). The appellant contends that the decree of the circuit court, as modified by the Supreme Court, is wholly void, for the reason that prior to the date thereof the Security Trust Company had gone into the hands of a receiver, and the receiver was not a party to the proceedings; that the appointment of a receiver effects a dissolution of a corporation under the Hawaiin statutes (Rev. Laws 1925, § 3487), which empower the treasurer of the territory, on becoming satisfied that a corporation has become insolvent or that its capital has become impaired, to apply to a court of competent jurisdiction for its winding up, and the appointment of a receiver to take possession of its records, books, and assets, collect all debts due it, and sell all its property under the direction of the court, and make final disposition of the assets. As declaring the effect of such statutes, the appellant cites 8 A. L. R. 449, where it is said: “Where the effect of an appointment of a receiver for a corporation is to extinguish the existence of the corporation as a body corporate, except as a receiver may have the right to use the corporate name in actions at law or in…